This country had a problem with housing before the pandemic. But it got real bananapants in the midst of it.
A large part of why we’re in this mess comes down to supply and demand. There’s just not enough homes to go around, which is driving up prices. Housing prices are up 20% from last year, and experts say we need up to 6.8 million units to meet demand.
So if it’s a supply problem, why can’t we just build more homes?
“Builders like to talk about the three L’s that go into housing: land, labor and lumber. And all of those things are harder to get. And more expensive,” said Amy Scott, a senior correspondent at Marketplace who covers housing.
On today’s show: Amy explains how we got here and why solving the housing shortage is a lot more complicated than it sounds.
In the News Fix, as the Jan. 6 committee prepares for public hearings this week, authorities continue to make arrests in connection with the attack on the Capitol. Plus, we’re talking stagflation.
Then, we’ll hear from an educator who is rethinking the teaching profession. And, who knew so many of you loved popcorn?!
Here’s everything we talked about today:
- “In addressing the housing shortage, we might need to rethink the way housing policy works” from Marketplace
- “There’s never been such a severe shortage of homes in the U.S. Here’s why” from NPR
- “The U.S. Housing Market Has Peaked” from The Atlantic
- “Explainer: Hundreds charged with crimes in Capitol attack” from the Associated Press
- Uvalde teacher speaks out from ABC News
- “World Bank Warns of Stagflation Risk, Cuts Global Growth Forecast to 2.9%” from The Wall Street Journal
When you’re done listening, send us your answer to the “Make Me Smart” question. We’re at makemesmart@marketplace.org and (508) 827- 6278 or (508) U-B-SMART.